Introducing TYCHE protocol
What is next?
What comes after the DeFi hype era and NFT boom?
Where to look for in these bearish times?
These questions are of utmost importance. Not everyone is a great trader or has the best luck to be making it out of all these crashes alive.
We come with answers.
Epilogue
Tyche, daughter of Aphrodite and Zeus, is a goddess of chance, fortune, providence, and fate. Tyche governs prosperity and destiny. She serves to bring glad tidings to people.
Introduction
In this modern era, Tyche is a financial hub that is starting its journey with a decentralized exchange (the Dex) built on EVMOS EVM which is an interoperable Ethereum blockchain with high repute in the crypto space. The Dex will provide the users a smooth and unhindered experience of swapping their assets including non-fungible tokens (NFTs). However, the Dex is just the first step. Tyche will subsequently bring forth the financial protocols that will enable its user to access a range of trading pools from a single dashboard, making it a Dex aggregator whilst increasing the efficiency of the platform. More features and unique perspectives are discussed in the vision section.
The Dex and the aggregator
Traditional systems of banks, brokers, payment processors, or other institutions are inefficient and ruthless when it comes to individual users. Tyche is a true believer in sole ownership of one’s assets without the need for others’ permission to use them. Blockchain initiated the process to enable this concept and decentralized finance has been enhancing it for a few years now. The core of a decentralized financing system is a permission-less, secure, peer-to-peer asset exchange platform, now commonly known as Decentralized Exchange (the Dex).
Tyche’s Dex also strengthens the same concept with better and improved features. Firstly, the Dex will involve a fundamental functionality allowing users to exchange their assets on the Dex with an automated market maker (AMM), just like any other decentralized crypto exchange. Subsequently, the aggregator module will strive to find the best price and/or lowest gas cost from a wide range of asset or Dex categories.
Furthermore, Tyche recognizes even though it serves prosperity, that alone does not eclipse the hard times. Nevertheless, one cannot evade but withstand such times with exposure to better viable opportunities. Simply put, when the market is down or you have to wait for an NFT to reach its optimal value, the money is tied up. This makes waiting more difficult if one needs money, even if just to get by in their daily life. In a similar spirit, Tyche brings its unique proposition; on the Dex, a lending platform is made available where one can pledge their NFTs as collateral to obtain money, a service unprovided so far.
Also, during the last DeFi run, it was apparent that liquidity providers are not protected to the extent they should be. By Tyche, it has not been overlooked. The aggregator functionality makes it possible to provide best exchange rates and slippage across all individual Dexes. All the access to huge liquidity shall be utilized to provide users with sustainable earnings, on which one can rely. This will also involve keeping the inflation rate low in order to ensure that the supply of Tyche’s native assets will not exceed the demand hence increasing the value in the short as well as the long-term.
Tyche Token
Tyche token will be airdropped to entire evmos network delegators and to a broader cosmos community. Tyche token will be rewarded to liquidity providers on Dex through incentivized pools.
Tyche as a DAO will be governed by Tyche token delegators. Tyche delegators will also enjoy the staking rewards.
Tyche NFT
The Tyche NFT is not just a native non-fungible token, but also beautiful pieces of art, based on the goddess herself with utility attached to them.
It must also be mentioned that Tyche is NFT-holder friendly. The NFT holders will enjoy a share of prosperity from the platform i.e., Tyche token airdrop, a sustainable decent return in addition to the value of the NFTs themselves.
In addition to the NFT-as-collateral feature, NFTs can be staked to earn sustainable decent returns as well.
Visit https://www.tyche.zone/
Join our twitter here https://twitter.com/tychezone
